Research Outline

Best Banks for Startups in Boulder, CO


Identify banks/financial institutions, whether brick-and-mortar or online, that would be best for an early-stage startup based out of Boulder, CO and can integrate with Stripe Atlas. Some to consider include Azlo, Mercury Bank, and Silicon Valley Bank, among others.

Early Findings

Azlo Bank

  • Azlo offers free online banking for freelancers and small businesses. Capabilities include no balance requirements or maintenance fees, as well as web and mobile apps for account management.
  • Azlo is compatible with accounting softwares, including QuickBooks, Xero, and Wave.
  • Integration with payment softwares including Stripe, Square, and PayPal is also possible, among others.

Mercury Bank

  • Mercury Bank offers free online banking, but also has a special "Tea Room" account for startups with venture-backed rewards from investment partners.
  • The only types of businesses Mercury Bank does not open accounts with are money services organizations, adult entertainment, marijuana, and internet gambling. Mercury Bank also does not open accounts for sole proprietors or trusts.
  • Mercury Bank is especially recommended for tech companies and those that do not deal with large amounts of physical cash.

Silicon Valley Bank

  • Silicon Valley Bank (SVB) offers startup banking that helps new businesses find venture capital investors, as well as free checking with no maintenance fees.
  • Today, SVB holds accounts for 50% of U.S. venture-backed tech and life sciences companies.
  • Startups that open accounts with SVB have access to special offers, including savings on business insurance, Amazon Web Services, and Zoom, among others.

Other Online Banks

  • BlueVine is consistently recommended across multiple sources as a highly-recommended online bank for startups because of their consistent customer support and 1% interest on checking accounts with no fees.
  • NBKC Bank is also recommended as a convenient option for startups because of their treasury solutions and business loans.
  • As a bank alternative, Consumers Credit Union (CCU) is known for offering small businesses up to 3 checking and savings accounts with no minimum balance, in addition to credit cards and merchant solutions.
  • Novo Bank is compatible with business tools including Google Cloud, Stripe, and Slack, making it a great option for startups looking for online banking solutions.
  • Axos Bank is recommended for startups because they offer competitive interest rates on both checking and savings accounts, as well as treasury management and merchant integration.

Other Brick-and-Mortar Banks

  • Wells Fargo is recommended for startups looking for a brick-and mortar banking solution because of the large number of branches they have. Wells Fargo is also the largest SBA lender in the U.S., making it a competitive option.
  • Chase Bank is recommended as a top national bank for startups because they offer both online and in-person banking and same-day deposits.
  • The Bank of Colorado is a great local option that offers both in-person and online banking, as well as lines of credit, small business loans, and cash management services.
  • Community Banks of Colorado is part of the Small Business Administration and can be integrated with a business' in-store and mobile payments systems, including POS systems.